China Archives - Panorama Insurance Brokers

Iraqi Cabinet approves BP Plan to spin off Rumaila

By John Lee. The Iraqi cabinet has approved a plan to restructure the ownership of the giant Rumaila oilfield. The field will be taken over by the newly-created Basra Energy Company (BEC), which in turn will be owned by BP and the China National Petroleum Corporation (CNPC). According to a statement from the Ministry of… Read More

PowerChina to Develop 2GW of Solar Power in Iraq

By John Lee. Iraq has signed an “agreement of principles” with state-owned PowerChina (Power Construction Corporation of China) to build a 2,000-MW solar power station. The Director General of the Investments and Contracts Department at the Ministry of Electricity, Mrs. Maha Hamoudi Abdul-Jabbar, signed on behalf of the Iraqi side, while the Deputy General Manager… Read More

China and Iraq to Increase Cooperation

By John Lee. On Wednesday, August 18, 2021, the President of the Republic of Iraq, Barham Salih made a phone call to Chinese President Xi Jinping. In the Phone conversation, President Salih congratulated the Chinese President on the 100th anniversary of the founding of the Chinese Communist Party. According to a statement from the Office… Read More

China Buys “nearly Half” of Iraq’s oil

By John Lee. An advisor to Iraqi Prime Minister Mustafa al-Kadhimi has said that nearly half of the country’s oil exports go to China, making China the number one market for Iraqi oil. Speaking on Thursday, Mazhar Muhammad Salih said that China accounts for about 40-44 percent of Iraqi oil exports, equating to about 800,000… Read More

IOC’s Strategic Positioning in Iraqi Upstream Petroleum

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. IOC’s Strategic Positioning in Iraq Upstream Petroleum Much talk have been circulating recently on “Big Oil” abandoning Iraq upstream petroleum projects after they rushed into the country many years ago. How much… Read More

Discussions Continue on Iraq’s Accession to WTO

By John Lee. Iraq’s Permanent Representative to the United Nations in Geneva, Ambassador Abdul Kareem Hashem Mustafa, met at the headquarters of the , the Deputy Director-General of the World Trade Organization (WTO), Chinese Ambassador Zhang Xiang Chen, at the WTO headquarters. The two sides discussed the importance of completing the technical documents required for… Read More

China to Snap Up Iraqi Oil Assets?

By John Lee. Both BP and Lukoil are reported to be considering quitting upstream oil operations in Iraq. Reuters quotes Iraq’s Oil Minister, Ihssan Abdul-Jabbar Ismail, as making the comments during a parliamentary session last week. Last month, BP was said to be planning to spin off its Iraqi operations in Iraq into a separate… Read More

Iraq Borrows $360m to Reduce Gas Flaring

The International Finance Corporation (IFC), a member of the World Bank Group, is investing in Basrah Gas Company (BGC) to support one of the largest gas flaring reduction projects in the world, helping to improve energy access, prevent associated greenhouse gas (GHG) emissions and support a more resilient, sustainable energy sector in Iraq. BGC is… Read More

PM Opens Samarra Power Station

By John Lee. Iraqi Prime Minister Mustafa al-Kadhimi has officially opened the first phase of the new Samarra power station. The second phase is scheduled to be completed later this year. The station will supply the grid with up to 1260 MW of electricity, and will serve northern Baghdad and Salah al-Din governorate. A third… Read More